58-28 251st St Uppr Unit · New York, NY 11362

$419,000

3 bd · 1.0 ba · 1,050 sqft · Condo · 93 Days on market

Built 1950 Fair condition ↓ 16% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +12.6/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Deepdale Gardens Co-op, upper 3 bedroom, 1 bath 1050 sq. ft unit. . courtyard setting, open-concept kitchen and dining area featuring board approved flooring, and generous closet space throughout the home ensures plenty of room for all your essentials. This co-op includes private parking and $1,291 monthly maintenance fee covering taxes, washer and Dryer combo and all utilities—no flip tax. Cats are welcome, . Don’t miss your chance to own this rare Little Neck treasure!

Key facts

• Courtyard setting
• Open-concept kitchen
• Private parking

Tags

• COURTYARD SETTING
• OPEN-CONCEPT KITCHEN
• GENEROUS CLOSET SPACE
• PRIVATE PARKING

Property features AI

Exterior

• Parking: Common parking
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected
• Home design: Stock cooperative; 2 stories; Entry level listed as 2
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: 2 total stories (entry level listed as 2)
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Oil heating
• Interior features: Eat-in kitchen; Granite counters; Dormer attic; No basement; 6 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $419k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-52 ($-629/yr) — negative.
• To cash-flow at today's rent, offer at most $411k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $360k (14.1% below list).
• Recommended offer: $360k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.6% in New York — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#268 in NY, #4,188 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime F, cost of living F.
• Market conditions: 162 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• This rent runs 35% of the median local income ($122k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($381k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $359,900 (14.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
12. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.54%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-71,179
• Equity at exit: $62,474

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-66,059
• Equity at exit: $36,227

Cash invested: $117,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City New York: 0 Strongly Tenant-Friendly · D+34

Rent Stabilization Code; HSTPA; 6+ months in housing court.

Methodology + full state rankings →

ZIP-level market 11362

• Home prices YoY: -31.1%
• Active inventory: 162
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $3,599 high
• Mortgage (P&I): −$2,197
• Tax est. 1.5%: −$524 /mo · $6,285/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $-52

Break-even live

Break-even rent $3,665

Max offer price $411,417

Occupancy floor 96%

Sensitivity live

Price	-10% $237	-5% $92	+0% $-52	+5% $-197	+10% $-342
Rent	-10% $-337	-5% $-195	+0% $-52	+5% $90	+10% $232
Rate	-1.0pp $159	-0.5pp $54	base $-52	+0.5pp $-161	+1.0pp $-271

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5710 253rd St Little Neck, NY	3.0	1.0	1236	$3,400	$2.75	2d	1	0.18mi
253-15 60th Ave Unit 2nd Floor Flushing, NY	3.0	2.0	1100	$3,500	$3.18	4d	1	0.20mi
245-63 61st Ave Unit 1FL Flushing, NY	3.0	2.0	1000	$3,000	$3.00	25d	1	0.22mi
5804 264th St Little Neck, NY	3.0	2.0	1196	$4,700	$3.93	11d	1	0.57mi
6923 Little Neck Pkwy Glen Oaks, NY	3.0	2.0	1300	$3,250	$2.50	13d	1	0.66mi
240-53 68th Ave Unit 1st Floor Douglaston, NY	2.0	1.0	900	$2,500	$2.78	25d	1	0.71mi
4245 247th St Little Neck, NY	3.0	1.0	1080	$3,800	$3.52	25d	1	0.87mi
4420 Douglaston Pkwy Unit 5A Little Neck, NY	2.0	1.0	900	$3,200	$3.56	0d	1	0.91mi
4623 Arcadia Ln Great Neck, NY	3.0	1.0	1480	$4,700	$3.18	45d	1	0.95mi
4141 Little Neck Pkwy #3 Little Neck, NY	2.0	2.0	1350	$3,000	$2.22	25d	1	0.96mi
232-15 67th Ave Unit 1FL Flushing, NY	2.0	2.0	900	$2,900	$3.22	5d	1	1.11mi
245-24 77th Cres Jamaica, NY	2.0	1.0	785	$2,600	$3.31	20d	1	1.19mi
5775 Cloverdale Blvd Oakland Gardens, NY	3.0	2.0	1200	$4,200	$3.50	25d	1	1.25mi
246-17 Union Tpke Unit A Bellerose, NY	3.0	1.0	799	$3,200	$4.01	25d	1	1.28mi
7608 269th St New Hyde Park, NY	3.0	2.0	1031	$4,500	$4.36	0d	1	1.30mi
56-25 226th St Unit 3 Bayside, NY	3.0	1.5	977	$3,250	$3.33	25d	1	1.32mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-22
   status Pending
2. 2026-04-30
   price $419,000
3. 2026-04-20
   price $429,000
4. 2026-03-25
   price $449,000
5. 2026-03-01
   price $469,000
6. 2026-02-18
   listed $499,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,188
• − Mortgage interest: −$23,471
• − Property taxes: −$6,285
• − Insurance: −$2,095
• − Repairs & maintenance: −$3,455
• − Management: −$3,455
• − Depreciation: −$12,189
• Taxable loss: −$7,762
• Est. tax savings @ 24.0%: +$1,863
• After-tax cash flow: $1,234/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 10 photos

Fair 45/100 Moderate rehab

The property requires moderate repairs and maintenance, including painting and HVAC updates, to improve its condition and value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor paint — wear on interior walls
• Moderate HVAC system — not visible

Value-add opportunities

• Both paint interior walls — enhances appearance and value
• Both HVAC maintenance — improves comfort and energy efficiency
• Both kitchen cabinets — new cabinets increase functionality and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
paint · wear on interior walls	Minor	$500–3,000
HVAC system · not visible	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both paint interior walls — enhances appearance and value ↑
• Both HVAC maintenance — improves comfort and energy efficiency ↑
• Both kitchen cabinets — new cabinets increase functionality and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — New York

• Score: 75/100
• State rank: #268
• US rank: #4188

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A- Housing C+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York, NY
• County: Queens County · 1,914,869 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 18,492
• Household income: $122,090
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 250.0

Population outlook (Queens County) Hauer SSP2

• Today (2025): 2,546,320 people
• By 2030: 2,643,059 · +3.8%
• By 2040: 2,815,563 · +10.6%
• By 2050: 2,944,423 · +15.6%
• By 2075: 3,123,338 · +22.7%
• By 2100: 3,098,688 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Asian 48% White 37% Hispanic / Latino 9% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 40% · China, South Korea, Canada
• Languages at home: 47% English-only · Chinese 21% Korean 12% Other Indo-European 9%

Political lean MEDSL · Queens

• 2024 margin: Strong D (+24.6) · D 62.3% · R 37.7%
• 2008→2024 swing: -26.2pp toward R · 2008: 50.8pp · 2024: 24.6pp
• All cycles: 2024: D+24.6 2020: D+45.2 2016: D+53.4 2012: D+58.5 2008: D+50.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.12%
• Current HPI: 259.773
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

-16.0% since first listed

6 events — show timeline

• 2026-05-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-30 Price Changed $419,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $429,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $449,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-01 Price Changed $469,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-18 Listed $499,000 OneKey® MLS as Distributed by MLS Grid